UPDATE:Lloyds Banking Group Swaps $760M Bonds For 537M Shares
28th Jun 2010 13:25
(Adds Lloyds comment, details.) By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said bondholders have agreed to exchange $760 million in upper Tier 2 bonds for 537.2 million new shares, as part of the bank's effort to cut its debt costs.
Read moreGeneral Dynamics Buys Defense Company From Lloyds' Buyout Arm
28th Jun 2010 12:38
By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--LDC Monday said it has sold defense equipment company Kylmar to General Dynamics United Kingdom Limited, part of U.S. giant General Dynamics Corp. (GD). Financial details of the transaction weren't disclosed. LDC, the mid
Read moreBroker tips: Lloyds, RBS, Hyder, Taylor Wimpey...
28th Jun 2010 12:23
UK banks are turning the corner, according to Nomura Securities, which has named Lloyds Banking as its preferred stock in the sector. "UK banks are benefiting from a combination of declining impairments, rising margins and strengthened capital bases," reasons Nomura analyst Robert Law, adding that
Read moreLondon midday: Oils lift indices
28th Jun 2010 12:14
Markets are higher after some better news from BP in the Gulf of Mexico and on reflection of the outcome of the latest G20 summit. The massive clean-up operation in the Gulf of Mexico continues and has now cost BP $2.65bn (£1.75bn). The oil giant is stopping almost 23,000 barrels of oil from leakin
Read moreLloyds Banking Group Swaps $760 Mln Bonds For 537 Mln Shares
28th Jun 2010 10:34
LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said bondholders have agreed to exchange $760 million in upper Tier 2 bonds for 537.2 million new shares, as part of the bank's effort to cut its debt costs. Analysts estimate the bond exchanges, which were made at a discount to face valu
Read moreBroker snap: Lloyds is Nomura's preferred UK bank
28th Jun 2010 08:29
UK banks are turning the corner, according to Nomura Securities, which has named Lloyds Banking as its preferred stock in the sector. "UK banks are benefiting from a combination of declining impairments, rising margins and strengthened capital bases," reasons Nomura analyst Robert Law, adding that
Read moreMARKET TALK: Nomura Ups Lloyds; Cuts Barclays, HSBC
28th Jun 2010 08:12
0712 GMT [Dow Jones] Nomura upgrades Lloyds Banking Group (LLOY.LN) to buy from reduce and lifts the target to 80p from 53p. Says Lloyds is particularly geared to domestic margin expansion owing to the repricing of mortgage asset yields and short-term wholesale funding. Cuts Barclays (BARC.LN) to
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
28th Jun 2010 08:12
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0712 GMT [Dow Jones] Nomura upgrades Lloyds Banking Group (LLOY.LN) to buy from reduce and lifts the target to 80p from
Read moreLondon close: Resource stocks drag Footsie lower
25th Jun 2010 16:42
Weakness in the resources sector ensured that Footsie finished firmly in the red. ENRC, Lonmin and Kazkhmys were big losers in the mining sector as base metal prices retreat. BP resumed its slide following a couple days' respite. Nomura Securities has suggested that the oil giant may have to ra
Read moreLondon afternoon: Stuck in reverse
25th Jun 2010 14:14
BP trimmed its losses over the lunch time session but the Footsie ended the period more or less where it started it, as weak mining stocks continue to weigh on the index. ENRC, Lonmin and Kazkhmys remain the big losers in the mining sector as base metal prices retreat. BP is still under the cosh
Read moreLondon midday: Stormy weather for BP
25th Jun 2010 12:01
Mining stocks and BP have combined to spoil what was a firm start by London's blue-chip stocks, with even the weather now appearing to have it in for the beleaguered UK oil giant. Mining stocks such as ENRC, Lonmin and Kazkhmys suffer chunky falls but these are dwarfed by BP shares, which are havin
Read moreMARKET TALK: Basel Adjustments Particularly Good For UK Banks
25th Jun 2010 10:51
0951 GMT [Dow Jones] Reports of adjustments to Basel III proposals would be particularly positive for UK banks, says Deutsche Bank. Notes reports that the Bank for International Settlements could be dropping its proposals for the net stable funding ratio at the G20 meeting, and that pension deficit
Read moreMARKET TALK: UK Bank Stocks Rise; Basel III In Focus
25th Jun 2010 09:16
0816 GMT [Dow Jones] Bank stocks lead the gains in London as speculation rises that the Basel Committee will present a modified version of Basel III at the G20 meeting, this weekend. Traders note reports that the document is likely to present watered down proposals. Commenting on the speculation, E
Read moreWater Hall Group To Sell Lloyds Banking Shares >WTH.LN
24th Jun 2010 12:12
LONDON (Dow Jones)--Water Hall Group PLC (WTH.LN), a holding company, said Thursday that its residual investment of 0.8 million shares in Lloyds Banking Group PLC (LLOY.LN) is regarded as non-core and it will therefore be sold at an opportune time. MAIN FACTS: -The U.K. planning system, esp
Read moreADR Report: Shares Close Mostly Flat On Cautious Outlook
23rd Jun 2010 22:11
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York ended close to flat Wednesday, following a fitful session during which the U.S. Federal Reserve kept interest rates low and took a cautious stance on the economic outlook. The Bank
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